THE PRESIDENT: Good morning. America's economy is on the right
track. Over the past two years, we've added more than 3.5 million new
jobs. More Americans are working today than ever before. Home
ownership is at an all time high. Small businesses are flourishing.
Factory output is growing. And families are taking home more of what
they earn.

These are hopeful signs for our economy, and we must work hard to
sustain that prosperity. When members of Congress return next week,
they need to take action on four key priorities for the American
people.

First, Congress needs to complete an energy bill. America is
growing more dependent on foreign oil, and that is driving up the price
of gasoline across the country. For the past four years, I've called
on Congress to pass legislation that encourages energy conservation,
promotes domestic production in environmentally friendly ways, funds
research into new technologies to help us diversify away from foreign
oil, and modernizes the electricity grid. I applaud the House for
passing an energy bill. Now the American people expect the Senate to
act, so I can sign a good energy bill into law by August.

Second, Americans expect Congress to be wise with their money. I
proposed a disciplined federal budget that makes tax relief permanent,
holds the growth in discretionary spending below the rate of inflation
and reduces discretionary spending for non-security programs. The
House and the Senate have worked together to pass a responsible budget
resolution that keeps us on track to cut the deficit in half by 2009.
Now Congress must keep its promise to exercise restraint on spending
bills and to rein in mandatory spending. The principle is clear:
Every taxpayer dollar must be spent wisely or not at all.

Third, Congress needs to ratify the Central American and Dominican
Republic Free Trade Agreement, known as CAFTA. On Monday, I will
travel to Florida to discuss CAFTA with leaders throughout the
hemisphere. I look forward to telling them that CAFTA is a good deal
for workers, farmers and small businesses in the United States and
throughout the hemisphere. About 80 percent of products from Central
America and the Dominican Republic now enter the United States duty
free. Yet, American exports to those countries face hefty tariffs.
CAFTA will level the playing field by making about 80 percent of
American exports to Central America and the Dominican Republic duty
free. CAFTA will lower barriers in key sectors like textiles, which
will make American manufacturers more competitive in the global
market. And CAFTA will make our neighborhood more secure by
strengthening young democracies. CAFTA is a practical, pro-jobs piece
of legislation. And Congress needs to pass it soon.

Finally, Congress needs to move forward with Social Security
reform. This past week, I traveled to Kentucky to talk about Social
Security. Next Wednesday, I will discuss Social Security with builders
and contractors in Washington, D.C. At each stop, I remind seniors
they will continue to receive their Social Security checks every
month. I also remind everyone that Social Security is in serious
trouble for our children and grandchildren. Americans of all ages have
made it clear they expect their leaders in Washington to strengthen
Social Security for future generations.

By taking action on all these priorities, Congress will strengthen
the long-term economic security of the American people. Americans
expect members of both parties to set aside partisan differences and
get things done. I look forward to working with Congress to achieve
results in the days ahead.